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Home Buying in San Francisco : Real Estate Advice

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Activity 974
Wed Feb 1, 2017
Steven West answered:
I'm afraid that your experience sounds completely normal to me. In my experience, Wells Fargo underwrites more than once, often in multiple locations. Although they seem to have the most market share, I have never heard a positive story from a buyers perspective.

You may still close in time, stay in contact with them. You can always get a backup lender (maybe someone local can sprint to the finish line for you?) Maybe Wells will move faster if you have a little competition... The worst !that can happen is that you spend another $400-$800 on another appraisal.

Good Luck
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0 votes 15 answers Share Flag
Fri Sep 28, 2012
Oggi Kashi answered:
You would normally hire a realtor unless you are going for foreclosure auction sales at the courthouse steps, in which case you would hire an attorney.

As for bidding, it all depends on the type of property, location, condition and the initial price set by the bank. Sometimes foreclosures sell for less than the asking price.

Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
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0 votes 6 answers Share Flag
Sat Sep 1, 2012
Rebecca White answered:
Hey Guys,

Not sure what your question is. Are you asking which places are 55+?

A regular condo such as Fank Norris or one that includes programs and food like the Carlisle?

Or pros and cons?

Rebecca
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0 votes 2 answers Share Flag
Sat Sep 1, 2012
Roxanne Minott answered:
Hello Todd,

One of the pros of buying a TIC in San Francisco is that TICs tend to be less expensive than condos. However, they have higher interest rates and higher down payment requirements.

Some TICs also require group loan financing, in which one co-owner's default on the mortgage could adversely affect the other co-owners. The use of fractional financing, which allows each co-owner to have his or her individual mortgage, has reduced this risk.

Very truly yours,

Roxanne

Roxanne Minott
Realtor
DRE #01898450
Better Homes and Gardens Mason-McDuffie
Real Estate
2200 Union Street
San Francisco, CA 94123
(415) 744-4726
roxanne@roxanneminott.com
http://www.bhghome.com/roxanne
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0 votes 3 answers Share Flag
Thu Aug 30, 2012
Rita V. Schmid answered:
Indeed it certainly is a great investment. The growth in Mission Bay is amazing if you look at the businesses surrounding that community. It encompasses the biotech companies, UCSF to name a few. With todays rental market and the cost of money - your intended purchase for Madrone would already be a positive investment. Good luck and if I could be of any assistance, please do not hesitate to reach out. Cheers~ Rita@VanguardSF.com ... more
0 votes 7 answers Share Flag
Sun Nov 18, 2012
Alison Hillman answered:
Hi there,

Let's match you up with an agent who can help you and find a place that fits your needs.

How does Trulia Agent Match work?

-We know the best agents and their specialities.
-You tell us your needs.
-We match you with the right agent, just for you.

Take a look:
http://www.trulia.com/voices/directory/San_Francisco-agent--33063

Hope this helps,
Ali, Community Manager
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0 votes 2 answers Share Flag
Tue Aug 21, 2012
Claudia Muller answered:
Cheyenne: Congrats on purchasing your first home!
As I state in my Blog, the first steps in homebuying are to familiarize yourself with the process AND get yourself preapproved with a lender.
You can also go to the MGIC.com website and take their first time homebuyer class which gives you the basics on home buying, qualifying, etc.

I do not know what is avalilbe in the SF market for that price range, but you can get into a $400,000 home with as a little as 3% with a conventional loan or 3.5% down with an FHA loan. You want to budget for about $10k in closing costs (MGIC website will explain closing costs).

Take a look at some of my blogs for first time home buying information!

:)
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0 votes 12 answers Share Flag
Tue Aug 21, 2012
Scott Godzyk answered:
The only on that can tell you and the only one's opinion that counts is a local and trusted loan officer. They have to look at your credit and financials and then can prequailify you at no cost to see if you quailify or not. The truth is anyone else is JUST GUESSING> Good luck with your loan ... more
0 votes 6 answers Share Flag
Sun Aug 19, 2012
Anna M Brocco answered:
You may wish to report the error message to customer service http://www.trulia.com/help/ask/
0 votes 2 answers Share Flag
Sun Aug 19, 2012
Ruth Velez answered:
You might want to do some internet searches on this question. I did a search and found an answer at the following web address: http://www.bills.com/non-resident-alien-mortgage/.

I hope this is of help to you. ... more
0 votes 7 answers Share Flag
Mon Aug 20, 2012
Roxanne Minott answered:
Hello,

Yes, the Mello Roos special tax will be there every year. It is a type of financing that is used to pay for improvements and services within the district. The taxes are levied every year against the property.

Here is a link to the California Tax Data website for more information on Mello Roos:

http://www.californiataxdata.com/a_free_resources/faq.asp#faq_04

Very truly yours,

Roxanne


Roxanne Minott
Realtor
DRE #01898450
Better Homes and Gardens Mason-McDuffie
Real Estate
2200 Union Street
San Francisco, CA 94123
(415) 744-4726
roxanne@roxanneminott.com
http://www.bhghome.com/roxanne
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0 votes 9 answers Share Flag
Sat Oct 26, 2013
Suzanne MacDowell answered:
Stuart, it's not just Wells Fargo, I have had the problems this year with two other large banks as well. We needed to reform underwriting standards, a few years ago we could get a mortgage for a ham sandwich and that wasn't good either. Unfortunately, as often happens, the pendulum swung WAY too far in the opposite direction. What we need now is for it to come back to center. Business owners seem to be the worst hit by these unfair and overly aggressive underwriting standards and that is particularly bad news. We need small business owners to be able to borrow money, whether for a home or to expand their businesses if we are to get this economy back on track. I am with you, something needs to be done! And not JUST at Wells Fargo! ... more
0 votes 14 answers Share Flag
Tue Apr 26, 2016
Cindy Davis answered:
As is always signals a 'red flag.' I would encourage you to be wise and get a home inspection. Based on that, you can decide whether to stay in the deal or get out...if you like the home, this is the step I would begin with.

Good luck.
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0 votes 24 answers Share Flag
Tue Aug 7, 2012
Gregory Karr answered:
Good question because it is filled with the potential to get a broker in trouble due to its overtones of discrimination. Let it rest that you can find a good home in the Bay View if you want to. I live in the Bay View.

Appreciation? Well, prices have increased lately in the Bay View and they are down from their peak prices during 2005 or so by about $200,000 or so. If jobs pick up and the economy gets back to where it was before the mortgage meltdown then you can make some money over the mid to long term. I wouldn't be looking for a 20% return over the next 3 years though.

The huge development from the baseball park all the way out to Hunters Point on the east side of Third Street is master planned for development. Grading work is in progress, toxic materials thanks to the Navy have been removed, and the city is behind the development. That will bring 10,000 to 15,000 people to the area and result in many changes from traffic to shopping and quality of life as commercial and residential building is completed. Can't say for sure, but that development could take 10 years or more to fully complete.

Interested in more? Contact me and I'll be happy to talk more about it.
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0 votes 2 answers Share Flag
Mon Jul 30, 2012
Eric H. Wong answered:
You have to get pre-approved from a lender. Your offer will not be taken seriously without that pre-approval letter. And remember, you want to get pre-approved, not pre-qualified.
Talk to your friends, or ask a Realtor to recommend a good lender.

That is your first step.
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0 votes 11 answers Share Flag
Tue Aug 21, 2012
gabrielle b dahms answered:
Lakisha,

This home was last sold in 2007 and is not currently on the market. You may have found this home on a site that is a foreclosure site and wants you to subscribe to their services for a monthly fee. Unfortunately, they often show addresses for homes that are not on the market.

Feel free to call me at 415-200-7202.
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0 votes 3 answers Share Flag
Thu Jul 26, 2012
Alison Hillman answered:
Hi Lakisha,

According to Google Maps, this street is near Ingleside Heights. Using our Crime Maps, I was able to determine that it is a very safe area, take a look:

http://www.trulia.com/real_estate/Ingleside_Heights-San_Francisco/1420/crime/

I hope this helps, let me know if I can assist you with anything else.

Ali, Community Manager
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0 votes 1 answer Share Flag
Sat Jul 28, 2012
Oggi Kashi answered:
It all depends on which areas of Bernal and Glen Park we are talking about however in general, Bernal sees more action and I feel its future is a bit brighter.

Oggi Kashi
Broker Associate, Paragon Real Estate Group CA DRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted. truonly
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0 votes 4 answers Share Flag
Wed May 29, 2013
Roland Vinyard answered:
I don't know about where you are, but that is illegal here. It's called a "kickback". There are probably several ways around this to accomplish a similar thing without running afoul of the law, but they are not things that I have ever done. ... more
0 votes 16 answers Share Flag
Sat Sep 5, 2015
Michael Wong answered:
Hello, Generally speaking buyer's agents do not offer half of their commission as a rebate to their clientele upon close of escrow. It certainly incentivizes you as the buyer to recommend this agent to other's so I can see the benefit. However, it does create twice the work for the buyer'd agent for the same outcome in the long run. ... more
0 votes 3 answers Share Flag
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